What is the Aave (AAVE) protocol?

Binance Academy · 2023-05-11T02:26:18.000Z

Summary AAVE is the native governance token of the Aave protocol. Holders of Ethereum-based cryptocurrencies can discuss and vote on proposals that influence the direction of the project. As Aave is one of the leading DeFi protocols, the AAVE token is one of the largest DeFi coins by market cap. Ethereum investors can easily borrow and lend their cryptocurrencies in a decentralized manner through Aave.